Director, Wealth Planning

4 days ago

Singapore STANDARD CHARTERED BANK (SINGAPORE) LIMITED Full time
JOB SUMMARY
  • Be part of the Wealth Planning and Family Advisory (WP& FA) team based in Singapore and the wealth advisory businessfor Standard Chartered's Private Banking ('PvB") in Singapore. Theindividual should be working with relationship managers, team headsand market heads to develop client relationships and conversationsusing the different topics and subject matters which a wealthplanner and family advisor should be able to leverage. Theindividual should support the Head of Wealth Planning and FamilyAdvisory in Singapore in driving strategy implementation, businessgrowth, value proposition offerings, people agenda and key internaland external partnerships to help the Regional Head in Singaporebuild the overall PvB business. The individual should also providetechnical support to PvB RMs based in Singapore with the sale andmaintenance of fiduciary services and assist in making referrals oftheir clients who are looking for insurance offerings to thirdparty brokers.
  • The individual will supportPrivate Bank in bringing in new clients and relationships whilemaintaining and deepening existing clients and relationships. Thisis to be accomplished while giving appropriate consideration onmaintaining product integrity, minimising risk, avoiding litigationand achieving NNM and other business targets. These supportprovided to the RMs, maintenance of fiduciary services andassistance on referrals to third party insurance brokers areexpected to lead to NNM and increase both AUM and revenues for thebank.

RESPONSIBILITIES

Strategy
  • Drive profitable growth by acquiring, deepening, andretaining client relationships with HNW and UHNW clients
  • Assist the Head of WP & FA team Singapore inimplementing the overall WP & FA strategy for SingaporeAC.
  • WP & FA are growing areas of interestfor UHNW clients. The WP should working with internal and externalpartners to bring competitive and comprehensive WP & FAsolutions to UHNW clients.
  • In line with thefocus to grow our UHNW business in Private Bank, to work togetherwith the global team of wealth planners across key locations andoffer an aligned and global proposition to UHNW clients that haveWP & FA needs across geographies.
  • DevelopWP & FA product and service offerings
  • Theindividual should develop the right skills and knowledge to achieveWP & FA KPIs where needed by business, and also to help withcoaching the juniors within the WP & FA team.
  • Achieve NNM target and other KPIs including clientengagements.
  • Work closely with the Head of WP& FA as well as Regional / Country management to promote WP& FA capabilities
  • Assist with themanagement of key external relationships e.g. with approvedInsurance brokers, trustees, accounting firms, tax advisors,immigrationspecialists

Business
  • Designated lead to engage new business prospects forfiduciary services
  • Provide technical supportto RMs in relation to the sale of fiduciary solutions and referralof clients to insurance brokers.
  • Act as aconduit between the Private Bank and SC Trust for ongoing fiduciarymatters with existing clients.
  • Work closelywith RMs to develop their marketing and business development plansfor offering fiduciary services to clients.
  • Contribute to the preparation of marketing and salesmaterials to support the fiduciary business, ensuring that theseare all approved by local Legal & Compliance.
  • Work closely with SC Trust to deliver the appropriatesolutions for clients.
  • Assist in creating theWP & FA proposition and sales strategies for all RM teams inSingapore AC.
  • Review the new business to beintroduced to SC Trust to ensure manageable levels of fiduciary,reputational and legal risks.
  • Present the newbusiness to LCC or GCC for approval.
  • Continueto monitor and assist the RMs and their clients in connection withtheir fiduciary structure alongside the RMs and making amendmentsas and when necessary, to meet any change in circumstances or needsfor the clients.
  • Work closely with otherrelevant product teams and key stakeholders in the development ofnew products and ongoing adherence to and monitoring ofdevelopments and changes to existing products (and related policiesand processes) and preparation and presentation of exceptionalcases to the LCC.
  • Assist and attend clientmeetings with RMs in Singapore and outside Singapore with regardsto the WP & FAoffering.

Processes
  • Support the continuous improvement of processes toincrease operational efficiency and effectiveness.
  • Support the effective management of operational risksacross the Business and in compliance with applicable internalpolicies, and external laws and regulations at a globallevel.
  • Support the delivery of Businessstrategy in a safe and well-controlled manner and on an end-to-endbasis.
  • Ensure sales management, suitabilityand onboarding processes are appliedappropriately

People& Talent
  • Train andassist the RMs so that they better understand the fiduciarystructures.
  • To the best of their knowledge,monitor and keep up to date with changes in tax laws and otherlegislation that affect the fiduciary business and report impact onchanges to regional markets.
  • Assist increating a WP & FA proposition and sales strategies for all RMteams in SingaporeAC.

RiskManagement
  • To complywith the highest standards of regulatory and business conduct andpractices as defined by internal and externalrequirements.
  • Understand and ensure compliancewith, in letter and spirit, all applicable laws, regulations andguidelines including those governing securities activities, companylaw, anti-money laundering, terrorist financing and sanctions; theGroup's policies and procedures; and the Group Code ofConduct.
  • Ensure that Risk Management mattersthat are brought to attention are subject to direct remedial actionand/or ensure adequate reporting to the relevant Risk Committeesand/or line management.
  • Handle customerissues, complaints, and product enquiries on timely basis inaccordance with establishedprocedures

Governance
  • Responsible for assessing the effectiveness of theGroup's arrangements to deliver effective governance, oversight andcontrols and highlighting gaps as appropriate.
  • Awareness and understanding of the regulatory frameworkin which the Group operates, and the regulatory requirements andexpectations relevant to the role.
  • Fulfilsupervisory responsibilities in line with supervisoryprinciples.
  • Ensure adherence with the higheststandards of ethics and compliance with relevant policies,processes, and regulations forms part of the culture.
  • Participate in Local Client Committee and other relevantcommittees where applicable.
  • Engage with allaudit report findings and ensure feedback is actedupon

Regulatory &Business Conduct
  • Display exemplary conduct and live by the Group's Valuesand Code of Conduct.
  • Take personalresponsibility for embedding the highest standards of ethics,including regulatory and business conduct, across StandardChartered Bank. This includes understanding and ensuring compliancewith, in letter and spirit, all applicable laws, regulations,guidelines and the Group Code of Conduct.
  • Effectively and collaboratively identify, escalate,mitigate and resolve risk, conduct and compliancematters.

KeyStakeholders
  • GlobalHead of Wealth Planning & Family Advisory
  • Head of Wealth Planning & Family Advisory,Singapore
  • Head of SC Trust
  • Wealth Solutions Product teams in Singapore
  • Regional Head / Market Heads
  • SeniorClient Partner / Team Leaders
  • Head of ClientServices Manager
  • Client ServiceManagers
  • Product Specialists and dedicatedfunctional partners
  • Relevant Front officecolleagues
  • External Tax and LegalFirms
  • Market Counterparts
  • External insurancebrokers

OtherResponsibilities
  • Perform other responsibilities assigned under Group,Country, Business or Functional policies and procedures; Multiplefunctions (doublehats)

Our IdealCandidate
  • 10 years ofexperience in wealth planning advisory
  • Academic or Professional Education/Qualifications-University Graduate with a Legal qualificationpreferred.
  • Licenses andCertifications/accreditations - as required by role remit andresponsibility
  • Professional Memberships -Relevant STEP or ICSA and valid Qualification/ Membership (asrequired by role remit and responsibility)
  • Bank training, i.e. mandatory &developmental
  • Demonstrable and relevantexperience in the Fiduciary / Private Banking industry commensuratewith this remit and level of responsibility.
  • Strong communication in Business Language
  • Demonstrable and relevant experience in the PrivateBanking industry commensurate with this remit and level ofresponsibility
  • Proven risk managementcapabilities
  • Firm in all business guidelinesand compliance issues
  • Sound knowledge offinancial markets and investment products
  • Outstanding communication and presentationskills

Role SpecificTechnical Competencies
  • Relationship Management
  • MarketKnowledge (SIF)
  • Products andProcesses
  • Strategy and Business Model(SIF)
  • Manage Conduct
  • ManageRisk

About StandardChartered

We're an internationalbank, nimble enough to act, big enough for impact. For more than170 years, we've worked to make a positive difference for ourclients, communities, and each other. We question the status quo,love a challenge and enjoy finding new opportunities to grow and dobetter than before. If you're looking for a career with purpose andyou want to work for a bank making a difference, we want to hearfrom you. You can count on us to celebrate your unique talents andwe can't wait to see the talents you can bringus.

Our purpose, to drive commerce andprosperity through our unique diversity, together with our brandpromise, to be here for good are achieved by how we each live ourvalued behaviours. When you work with us, you'll see how we valuedifference and advocate inclusion.

Togetherwe:
  • Do the rightthing and are assertive, challenge one another, andlive with integrity, while putting the client at the heart of whatwe do
  • Neversettle, continuously striving to improve andinnovate, keeping things simple and learning from doing well, andnot so well
  • Are bettertogether, we can be ourselves, be inclusive, seemore good in others, and work collectively to build for the longterm

What weoffer

In line withour Fair Pay Charter, we offer a competitive salaryand benefits to support your mental, physical, financial and socialwellbeing.
  • Core bankfunding for retirement savings, medical and lifeinsurance, with flexible and voluntary benefitsavailable in some locations.
  • Time-off including annualleave, parental/maternity (20 weeks), sabbatical (12 monthsmaximum) and volunteering leave (3 days), along with minimum globalstandards for annual and public holiday, which is combined to 30days minimum.
  • Flexibleworking options based around home and officelocations, with flexible working patterns.
  • Proactive wellbeing supportthrough Unmind, a market-leading digital wellbeing platform,development courses for resilience and other human skills, globalEmployee Assistance Programme, sick leave, mental healthfirst-aiders and all sorts of self-help toolkits
  • A continuous learningculture to support your growth, with opportunitiesto reskill and upskill and access to physical, virtual and digitallearning.
  • Being part of aninclusive and values driven organisation, one thatembraces and celebrates our unique diversity, across our teams,business functions and geographies - everyone feels respected andcan realise their fullpotential.

RecruitmentAssessments

Some of our roles useassessments to help us understand how suitable you are for the roleyou've applied to. If you are invited to take an assessment, thisis great news. It means your application has progressed to animportant stage of our recruitmentprocess.

Visit our careers websitewww.sc.com/careers

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